The Small-Business Guide to Government Contracts: How to Comply with the Key Rules and Regulations and Avoid Terminated Agreements, Fines, or Worse

By Steven J. Koprince | Go to book overview

CHAPTER 1
IS YOUR SMALL BUSINESS
REALLY SMALL?
TO BE ELIGIBLE for federal small business set-aside contracts, you must certify that your company is a small business. Get the certification wrong, and you could lose a contract to a size protest—or face much harsher penalties, like suspension or debarment.But is your small business really “small”? It’s not a trick question. When it comes to government contracts, figuring out your own company’s size can be more difficult than it sounds.Your small business’s size for purposes of a government contract turns on four factors:
1. The North American Industry Classification System (NAICS) code (a standard used by federal agencies in classifying businesses by industry for purposes of collecting, analyzing, and publishing statistical data about the U.S. economy), assigned to a particular solicitation you intend to bid upon
2. The date your business submits a proposal on the procure ment (or, in relatively rare cases, another date later in the procurement process)

-8-

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